Planning to sign contracts shortly on a leasehold property in Waterbeach. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Waterbeach should include some of the following:

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Waterbeach. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Waterbeach ?

Most houses in Waterbeach are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Waterbeach in which case you should be shopping around for a Waterbeach conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.

I own a leasehold house in Waterbeach. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Waterbeach who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Waterbeach conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold house in Waterbeach. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Completion in due on the sale of our £375000 maisonette in Waterbeach next week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Waterbeach?

Waterbeach conveyancing on leasehold apartments often requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in Waterbeach - A selection of Queries Prior to buying

For most Waterbeach leaseholds the outlay for major works tend not to be included within maintenance charges, although some managing agents in Waterbeach ask leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. This information is important as a) areas can cause problems in the block as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will want to have all the details How many years are left on the lease?

Other Topics

Lease Extensions in Waterbeach